Megatrends

The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.

Apparel and Footwear in Austria

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Executive Summary

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Apparel and footwear registers a moderate performance

Apparel and footwear retail registered moderate value growth in 2017. Although the Austrian economy showed signs of recovery and the unemployment rate dropped, consumers still remained price sensitive and selective in their spending.

Austrian economy is growing again

According to the Organization for Economic Cooperation and Development (OECD), the Austrian economy strengthened slightly, supported by private consumption, increased investments and exports in 2017. Unemployment too decreased for the first time since 2011.

The shift in weather patterns creates a difficult situation for apparel and footwear retailers that can longer offer clothing based on seasonal trends. For example, if the autumn is warm, consumers refrain from buying warm clothing, which results in piles of unsold stocks.

Apparel and footwear retail is congested, but online retailing is seeing rapid growth

The Austrian apparel and footwear retail landscape is extremely congested and fragmented. Two types of retailers that are remarkably successful are fast fashion companies and apparel and footwear discounters.

Moderate growth expected in the forecast period

The recovery process in the Austrian economy is expected to steadily continue but at a slower tempo in 2018. Unemployment is expected to drop further and private consumption is also expected to improve.

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